Tag Archives: Construction

Anders Invest acquires Bincx

Anders Invest

Anders Invest has acquired a 60% participation in Bincx from Kootwijkerbroek. The company engineers, produces and installs steel structures for non-residential construction. Bincx has a turnover of approximately € 80 million and employs more than 100 permanent employees.

Bincx was founded in 2001 and has since grown into one of the larger players in the Netherlands in the field of steel structures for industrial real estate and utility construction in various applications such as production halls, offices, schools, logistics real estate and agricultural applications. The company operates from production and assembly halls at various locations in the Netherlands. The German market is served from Gronau.

Bincx has an engineering department, production with CNC machine lines, a large number of mobile cranes and its own assembly teams. In addition to mounting the steel structures, prefab concrete walls and sandwich roof and facade elements are also mounted. The culture is innovative, with an average of young employees, and there is room for new ideas and self-organization.

The company’s customer base consists of established (international) construction companies and contractors in the Netherlands, Belgium, France and Germany. Bincx also works with a number of Dutch system integrators who deliver turnkey projects in emerging markets.

Anders Invest acquired its interest from founder and director Wilco van den Brink. Mr. Van den Brink will retain a 40% interest and, together with the management, will continue to work actively to achieve further growth and professionalize the organization.

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Brabant Groep acquires Euroblast

Brabant Groep from Oosterhout, part of the Industriefonds of Anders Invest, has acquired the shares of Euroblast N.V. from Belgium.

Brabant Groep focuses on corrosion prevention projects for various sectors such as tank construction, steel construction, petrochemicals, civil engineering, utility construction, shipbuilding and energy. Euroblast is located near the port of Antwerp and specializes in blasting and preserving steel plates for shipbuilding, tank construction, offshore applications and industry and works for Belgian, European and intercontinental customers.

With the acquisition of Euroblast, Brabant Groep obtains greater geographical coverage and can serve its customers more widely. In addition, synergies can be achieved through more efficient business operations, improved use of the various locations and the sharing of logistics, facilities and work processes. Euroblast will continue to operate under its own name.

This is the second expansion for Brabant Groep this year. In June, a merger between the Brabant Group entity Straco Heerenveen and Staal Technische Centrum Noord-Nederland (STC) was realised. Straco Heerenveen is active in the field of wet painting and powder coating. STC is active in blasting and wet coating applications. In time, the facilities will be expanded with a new aluminum coating line.

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Trackunit and ZTR come together to connect construction

HG Capital

LONDON, ON, MINNEAPOLIS, MN and AALBORG, DK – September 15, 2021 – Trackunit and the Industrial IoT division of ZTR are uniting to better serve the growing demands of the construction industry. Putting customer needs first, the two telematics leaders are combining their considerable resources to accelerate innovation and drive digital transformation — with collaboration and service at the centre of their strategy.

“We see the industry at a pivotal tipping point when it comes to digitalization of their business and equipment – and customers are looking for a trusted partner.”

Soeren Brogaard, CEO of Trackunit

“By combining ZTR IIoT and Trackunit resources and offerings, we’re better equipped to serve the needs of the customers now and in the future.”

Sam Hassan, President & CEO of ZTR

Strengthening our core focus
As a combined entity, Trackunit and the ZTR IIoT division will extend their core focus to accelerate the digital journey in construction, Hassan continues.

“By coming together with Trackunit, we will be able to operate on a global scale to provide an expanded offering to our customers with greater efficiency and depth,” he says.

“Together, we are strengthening our core focus on enabling the ecosystem of construction. By combining our businesses, we’re elevating our technology and increasing the value customers will be able to extract from their data”, adds Soeren Brogaard.

Over the past few years, the realm of IoT and telematics possibilities has evolved from simple track and trace technology into highly actionable insights that create massive value for the stakeholders of the construction industry.

After the transaction closes the combined entity of Trackunit and ZTR will specialize in creating offerings that enhance utilization, increase fleet availability, improve safety and reduce equipment loss as major value drivers. In addition, both companies will help customers in collecting data and translating it into actionable insights – enabling customers to build smarter and more resilient machines. Furthermore, the combined entity is dedicated to helping improve daily operations for customers with increased operator safety, machine health and business optimizations.

“Our promise to the industry is based on collaboration. With a purpose as determined and noble as eliminating downtime, we know that working with our customers to apply new digital tools, is absolutely necessary. We make ourselves useful and strive to solve real problems, building everything for scale, while showing compassion for our customers, partners, competitors, and the industry at large”, says Soeren Brogaard.

Best of both worlds
At their cores, both Trackunit and ZTR are in business to build solutions that propel the construction industry forward. Trackunit recently attracted a strategic investment from Hg, a leading global software and services investor, to accelerate the company expansion, while ZTR has been transforming its business, and predicts growth through rising demand. Both Trackunit and ZTR have recently taken their first steps into, and secured traction in, the APAC region. Both businesses are ready to start the next chapter – one company focused on uniting the industry and shape it to become the most useful industry for the world. In essence, the timing couldn’t be better.

“We’re focused on delivering our existing customer commitments and creating a smooth integration. This is all about bringing people, competence, and great technology together to create a bigger impact”, says Soeren Brogaard.

A shift in the market
The construction industry is growing rapidly. It is experiencing accelerated investment in IoT capabilities with construction now one of the top five industries for investment growth. As a result, data proliferation is expected to grow exponentially as penetration of connected equipment continues beyond 2025 and machine-level data grows. Given these developments, Trackunit and ZTR IIoT are teaming up to better help their customers meet the changes that come with increasing digitalization of the construction industry.

“ZTR and Trackunit together represent an incredible next step that will enable us to become a truly global player to better serve our customers. I’m excited to roll up my sleeves and take an active part in the executive team. I look forward to venturing out on this shared mission – one in which I have no doubt Soeren Brogaard will capably lead”, says Sam Hassan.

About Trackunit ApS
Trackunit is the leading SaaS-based IoT solution and machine insights provider to the global construction equipment industry. Trackunit collects and analyzes machine data in real-time to deliver actionable, proactive and predictive information, empowering customers with data-driven foresight.

Trackunit promises to lead the technology engagement to help eliminate downtime. The ambition of this mission is not only to recover from budget and schedule overruns, but also to re-establish the reputation of the industry for innovation and leadership.

From operator safety and machine health to business optimization, Trackunit’s industry-leading telematics software, hardware and fleet management services benefit the everyday operations of the customers worldwide. Trackunit services its customers directly from its headquarters in Denmark, Chicago, IL and Singapore, as well as through subsidiaries in Sweden, Norway, France, Holland, Germany, UK, Australia and Japan. Visit trackunit.com to learn more

About ZTR
ZTR is a global technology company that develops solutions for the compact construction industry. Known as a pioneer in the development industrial Internet of Things (IoT) technology, the telematics provider delivers products and services that allow companies to remotely monitor and manage mobile as well as fixed assets.

Leading the industry in response to the need for richer machine data, greater uptime, and better insights, ZTR has designed new solutions that help Rental Companies, OEMs and end-users work together to operate smarter and easier. By listening and collaborating with its customers, ZTR takes on big industry challenges and opens pathways toward the continued digitalization of the construction sector.

ZTR Telematics Solutions easily integrate with industrial machinery and the business systems customers use every day so they can use the data to make decisions and react in real-time. With more than 450,000 telematics-enabled assets under contract, ZTR integrates with 150+ industrial Original Equipment Manufacturers, and many top rental houses worldwide.

The Rail division of ZTR will continue to operate independently. There will be no impact to its organization structure, customers or business operations as a result of this announcement. For more information visit www.ztr.com

Media contacts

Trackunit Aps
Laerke Ullerup
Chief Marketing Officer

Gasværksvej 24, 4.sal,
DK-9000 Aalborg

Tel: +45 53703033
LUL@trackunit.com

ZTR
Colleen Burghardt
Marketing Communications Manager

Industrial IoT Division
955 Green Valley Road
London, Ontario Canada
N6N 1E4

Tel: 1-519-452-1233 Ext.337
cburghardt@ztr.com

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Trackunit and ZTR come together to connect construction

HG Capital

LONDON, ON, MINNEAPOLIS, MN and AALBORG, DK – September 15, 2021 – Trackunit and the Industrial IoT division of ZTR are uniting to better serve the growing demands of the construction industry. Putting customer needs first, the two telematics leaders are combining their considerable resources to accelerate innovation and drive digital transformation — with collaboration and service at the centre of their strategy.

“We see the industry at a pivotal tipping point when it comes to digitalization of their business and equipment – and customers are looking for a trusted partner.”

Soeren Brogaard, CEO of Trackunit

“By combining ZTR IIoT and Trackunit resources and offerings, we’re better equipped to serve the needs of the customers now and in the future.”

Sam Hassan, President & CEO of ZTR

Strengthening our core focus
As a combined entity, Trackunit and the ZTR IIoT division will extend their core focus to accelerate the digital journey in construction, Hassan continues.

“By coming together with Trackunit, we will be able to operate on a global scale to provide an expanded offering to our customers with greater efficiency and depth,” he says.

“Together, we are strengthening our core focus on enabling the ecosystem of construction. By combining our businesses, we’re elevating our technology and increasing the value customers will be able to extract from their data”, adds Soeren Brogaard.

Over the past few years, the realm of IoT and telematics possibilities has evolved from simple track and trace technology into highly actionable insights that create massive value for the stakeholders of the construction industry.

After the transaction closes the combined entity of Trackunit and ZTR will specialize in creating offerings that enhance utilization, increase fleet availability, improve safety and reduce equipment loss as major value drivers. In addition, both companies will help customers in collecting data and translating it into actionable insights – enabling customers to build smarter and more resilient machines. Furthermore, the combined entity is dedicated to helping improve daily operations for customers with increased operator safety, machine health and business optimizations.

“Our promise to the industry is based on collaboration. With a purpose as determined and noble as eliminating downtime, we know that working with our customers to apply new digital tools, is absolutely necessary. We make ourselves useful and strive to solve real problems, building everything for scale, while showing compassion for our customers, partners, competitors, and the industry at large”, says Soeren Brogaard.

Best of both worlds
At their cores, both Trackunit and ZTR are in business to build solutions that propel the construction industry forward. Trackunit recently attracted a strategic investment from Hg, a leading global software and services investor, to accelerate the company expansion, while ZTR has been transforming its business, and predicts growth through rising demand. Both Trackunit and ZTR have recently taken their first steps into, and secured traction in, the APAC region. Both businesses are ready to start the next chapter – one company focused on uniting the industry and shape it to become the most useful industry for the world. In essence, the timing couldn’t be better.

“We’re focused on delivering our existing customer commitments and creating a smooth integration. This is all about bringing people, competence, and great technology together to create a bigger impact”, says Soeren Brogaard.

A shift in the market
The construction industry is growing rapidly. It is experiencing accelerated investment in IoT capabilities with construction now one of the top five industries for investment growth. As a result, data proliferation is expected to grow exponentially as penetration of connected equipment continues beyond 2025 and machine-level data grows. Given these developments, Trackunit and ZTR IIoT are teaming up to better help their customers meet the changes that come with increasing digitalization of the construction industry.

“ZTR and Trackunit together represent an incredible next step that will enable us to become a truly global player to better serve our customers. I’m excited to roll up my sleeves and take an active part in the executive team. I look forward to venturing out on this shared mission – one in which I have no doubt Soeren Brogaard will capably lead”, says Sam Hassan.

About Trackunit ApS
Trackunit is the leading SaaS-based IoT solution and machine insights provider to the global construction equipment industry. Trackunit collects and analyzes machine data in real-time to deliver actionable, proactive and predictive information, empowering customers with data-driven foresight.

Trackunit promises to lead the technology engagement to help eliminate downtime. The ambition of this mission is not only to recover from budget and schedule overruns, but also to re-establish the reputation of the industry for innovation and leadership.

From operator safety and machine health to business optimization, Trackunit’s industry-leading telematics software, hardware and fleet management services benefit the everyday operations of the customers worldwide. Trackunit services its customers directly from its headquarters in Denmark, Chicago, IL and Singapore, as well as through subsidiaries in Sweden, Norway, France, Holland, Germany, UK, Australia and Japan. Visit trackunit.com to learn more

About ZTR
ZTR is a global technology company that develops solutions for the compact construction industry. Known as a pioneer in the development industrial Internet of Things (IoT) technology, the telematics provider delivers products and services that allow companies to remotely monitor and manage mobile as well as fixed assets.

Leading the industry in response to the need for richer machine data, greater uptime, and better insights, ZTR has designed new solutions that help Rental Companies, OEMs and end-users work together to operate smarter and easier. By listening and collaborating with its customers, ZTR takes on big industry challenges and opens pathways toward the continued digitalization of the construction sector.

ZTR Telematics Solutions easily integrate with industrial machinery and the business systems customers use every day so they can use the data to make decisions and react in real-time. With more than 450,000 telematics-enabled assets under contract, ZTR integrates with 150+ industrial Original Equipment Manufacturers, and many top rental houses worldwide.

The Rail division of ZTR will continue to operate independently. There will be no impact to its organization structure, customers or business operations as a result of this announcement. For more information visit www.ztr.com

Media contacts

Trackunit Aps
Laerke Ullerup
Chief Marketing Officer

Gasværksvej 24, 4.sal,
DK-9000 Aalborg

Tel: +45 53703033
LUL@trackunit.com

ZTR
Colleen Burghardt
Marketing Communications Manager

Industrial IoT Division
955 Green Valley Road
London, Ontario Canada
N6N 1E4

Tel: 1-519-452-1233 Ext.337
cburghardt@ztr.com

Categories: News

Tags:

Trackunit and ZTR come together to connect construction

HG Capital

LONDON, ON, MINNEAPOLIS, MN and AALBORG, DK – September 15, 2021 – Trackunit and the Industrial IoT division of ZTR are uniting to better serve the growing demands of the construction industry. Putting customer needs first, the two telematics leaders are combining their considerable resources to accelerate innovation and drive digital transformation — with collaboration and service at the centre of their strategy.

“We see the industry at a pivotal tipping point when it comes to digitalization of their business and equipment – and customers are looking for a trusted partner.”

Soeren Brogaard, CEO of Trackunit

“By combining ZTR IIoT and Trackunit resources and offerings, we’re better equipped to serve the needs of the customers now and in the future.”

Sam Hassan, President & CEO of ZTR

Strengthening our core focus
As a combined entity, Trackunit and the ZTR IIoT division will extend their core focus to accelerate the digital journey in construction, Hassan continues.

“By coming together with Trackunit, we will be able to operate on a global scale to provide an expanded offering to our customers with greater efficiency and depth,” he says.

“Together, we are strengthening our core focus on enabling the ecosystem of construction. By combining our businesses, we’re elevating our technology and increasing the value customers will be able to extract from their data”, adds Soeren Brogaard.

Over the past few years, the realm of IoT and telematics possibilities has evolved from simple track and trace technology into highly actionable insights that create massive value for the stakeholders of the construction industry.

After the transaction closes the combined entity of Trackunit and ZTR will specialize in creating offerings that enhance utilization, increase fleet availability, improve safety and reduce equipment loss as major value drivers. In addition, both companies will help customers in collecting data and translating it into actionable insights – enabling customers to build smarter and more resilient machines. Furthermore, the combined entity is dedicated to helping improve daily operations for customers with increased operator safety, machine health and business optimizations.

“Our promise to the industry is based on collaboration. With a purpose as determined and noble as eliminating downtime, we know that working with our customers to apply new digital tools, is absolutely necessary. We make ourselves useful and strive to solve real problems, building everything for scale, while showing compassion for our customers, partners, competitors, and the industry at large”, says Soeren Brogaard.

Best of both worlds
At their cores, both Trackunit and ZTR are in business to build solutions that propel the construction industry forward. Trackunit recently attracted a strategic investment from Hg, a leading global software and services investor, to accelerate the company expansion, while ZTR has been transforming its business, and predicts growth through rising demand. Both Trackunit and ZTR have recently taken their first steps into, and secured traction in, the APAC region. Both businesses are ready to start the next chapter – one company focused on uniting the industry and shape it to become the most useful industry for the world. In essence, the timing couldn’t be better.

“We’re focused on delivering our existing customer commitments and creating a smooth integration. This is all about bringing people, competence, and great technology together to create a bigger impact”, says Soeren Brogaard.

A shift in the market
The construction industry is growing rapidly. It is experiencing accelerated investment in IoT capabilities with construction now one of the top five industries for investment growth. As a result, data proliferation is expected to grow exponentially as penetration of connected equipment continues beyond 2025 and machine-level data grows. Given these developments, Trackunit and ZTR IIoT are teaming up to better help their customers meet the changes that come with increasing digitalization of the construction industry.

“ZTR and Trackunit together represent an incredible next step that will enable us to become a truly global player to better serve our customers. I’m excited to roll up my sleeves and take an active part in the executive team. I look forward to venturing out on this shared mission – one in which I have no doubt Soeren Brogaard will capably lead”, says Sam Hassan.

About Trackunit ApS
Trackunit is the leading SaaS-based IoT solution and machine insights provider to the global construction equipment industry. Trackunit collects and analyzes machine data in real-time to deliver actionable, proactive and predictive information, empowering customers with data-driven foresight.

Trackunit promises to lead the technology engagement to help eliminate downtime. The ambition of this mission is not only to recover from budget and schedule overruns, but also to re-establish the reputation of the industry for innovation and leadership.

From operator safety and machine health to business optimization, Trackunit’s industry-leading telematics software, hardware and fleet management services benefit the everyday operations of the customers worldwide. Trackunit services its customers directly from its headquarters in Denmark, Chicago, IL and Singapore, as well as through subsidiaries in Sweden, Norway, France, Holland, Germany, UK, Australia and Japan. Visit trackunit.com to learn more

About ZTR
ZTR is a global technology company that develops solutions for the compact construction industry. Known as a pioneer in the development industrial Internet of Things (IoT) technology, the telematics provider delivers products and services that allow companies to remotely monitor and manage mobile as well as fixed assets.

Leading the industry in response to the need for richer machine data, greater uptime, and better insights, ZTR has designed new solutions that help Rental Companies, OEMs and end-users work together to operate smarter and easier. By listening and collaborating with its customers, ZTR takes on big industry challenges and opens pathways toward the continued digitalization of the construction sector.

ZTR Telematics Solutions easily integrate with industrial machinery and the business systems customers use every day so they can use the data to make decisions and react in real-time. With more than 450,000 telematics-enabled assets under contract, ZTR integrates with 150+ industrial Original Equipment Manufacturers, and many top rental houses worldwide.

The Rail division of ZTR will continue to operate independently. There will be no impact to its organization structure, customers or business operations as a result of this announcement. For more information visit www.ztr.com

Media contacts

Trackunit Aps
Laerke Ullerup
Chief Marketing Officer

Gasværksvej 24, 4.sal,
DK-9000 Aalborg

Tel: +45 53703033
LUL@trackunit.com

ZTR
Colleen Burghardt
Marketing Communications Manager

Industrial IoT Division
955 Green Valley Road
London, Ontario Canada
N6N 1E4

Tel: 1-519-452-1233 Ext.337
cburghardt@ztr.com

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HENT signs major agreement with Statsbygg for construction of part of new Norwegian government district

The construction company HENT, 73% of which is owned by Ratos, has signed an agreement with the Norwegian government’s building commissioner, property manager and developer Statsbygg concerning the construction of A-block, part of the new government district in Oslo. HENT already has an agreement in place for D-block.

Construction of the new government district in Oslo started in January of this year, and construction of A-block is scheduled to commence in 2023. It is a major project for HENT and, like D-block, will be carried out as a so-called partnering contract.

“I am very proud that HENT has once again been entrusted to contribute to such a central part of Norway’s infrastructure as the government district. It is also gratifying to see that HENT’s focus on partnering is yielding results and, so far, A-block and D-block are the crowning jewels for HENT in Norway when it comes to this type of collaborative project,” says Christian Johansson Gebauer, Chairman of the Board of HENT and Head of Business Area at Ratos.

The building will cover a total of 17,300 square metres across 11 storeys, featuring a distinct exterior that will provide a sense of cohesion with the entire district. The new government district in Oslo is expected to be fully completed in 2029.

“In addition to being an important project in its own right, this project will continue to strengthen HENT’s backlog of orders, where public-sector customers are playing an increasingly important role,” Christian Johansson Gebauer continues.
For further information:
Christian Johansson Gebauer, Head of Business Area Construction & Services
+46 8 700 17 00

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2020, the companies have approximately SEK 34 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

 

 

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Latour acquires HK Instruments Oy

Latour logo
2021-05-27 08:30

Investment AB Latour (publ) has, through its subsidiary Produal Holdings, acquired HK Instruments Oy, based in Finland. Produal is part of Bemsiq AB, a group of innovative and fast-growing companies providing products in building automation and metering.

HK Instruments, with head office and manufacturing in Muurame, Finland, was founded in 1987 and offers advanced measuring devices for building automation. The company specializes in technologically advanced measuring devices for HVAC applications, including differential pressure transmitters, switches, meters for liquids, gas detection sensors, and more. Total revenues in 2020 amounted to EUR 8 m with 50 employees.

“HK Instruments is a high-quality company in terms of both people and products. We have known the company for many years and are very impressed by their accomplishment. We see great potential to continue developing the company together”, says Anselmi Immonen, CEO at Produal Oy.

“For us, Produal and Bemsiq are the perfect strategic long-term partners. Their extensive product portfolio and industry network combined with the wide distribution channel and global brand presence of HK Instruments give great opportunities for all companies. We are very keen to continue our journey together with them”, says Jukka Kalliomäki, CEO of HK Instruments.

As an effect of the acquisition the net debt (excl. IFRS 16) of the Latour Group is expected to increase compared to the net debt level at the end of March 2021, to around SEK 6.0 billion, all else equal.

The acquisition will be completed in June 2021.

Göteborg, May 27, 2021

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Mikael J Albrektsson, CEO Bemsiq AB, +46 733 23 3606
Anselmi Immonen, CEO Produal Oy, +358 509 11 80 68
Ida Saalman, Business Development Investment AB Latour, +46 727 22 8869

Bemsiq AB, with headquarters in Gothenburg, Sweden, has an annual turnover of SEK 725 m and employs about 270 persons. Bemsiq consists of a group of innovative and fast-growing companies providing products in building automation and metering and is a subsidiary of Latour Industries, which is one of five wholly-owned business areas within the Latour Group.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 79 billion. The wholly-owned industrial operations has an annual turnover of SEK 15 billion.

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Ratos acquires 63 % of Vestia Construction Group

Ratos

Ratos is acquiring 63% of Vestia Construction Group (“Vestia”), which is active in the expansive Gothenburg market. Vestia has recorded average annual growth of 40% over the past five years, with an adjusted EBITA margin of 6% for the 2019/2020 financial year. Vestia is expected to reach approx. 750 MSEK in revenue for current financial year.

“The acquisition of Vestia is an excellent complement to our existing construction company, HENT, both geographically and in terms of expertise. The company has a strong customer-oriented culture and a transparent business model that provides a large amount of security for the customer. We are pleased that management and other key individuals, who own 37% of the company after the transaction, have chosen to further develop Vestia together with us at Ratos,” says Christian Johansson Gebauer, Business Area Manager for Construction & Services at Ratos.

Vestia works in accordance with a so-called “partnering model”, whereby the work is based on a target budget and Vestia is paid for running costs coupled with a predetermined fee. The customer and Vestia work transparently, and make all key decisions jointly to achieve the best total economy and effective implementation. The process creates a large amount of security for all parties, the financial risks are minimised and the projects are delivered with a high level of quality and using long-term sustainable solutions.

“For some time, we have been looking for a new principal owner who can take an active part in the company’s continued growth, and we are very pleased that Ratos is stepping into this role. We will now be part of a business group with deep roots and expertise in construction and construction-related areas. We are convinced that we can identify soft synergies with our new sister companies at Ratos, such as the construction company HENT, which will allow us to share experiences and perhaps also collaborate on selected projects,” says Christian Wieland, CEO of Vestia Construction Group.

Ratos has acquired 63% of the shares in Vestia, most of which from two non-operative owners who have sold all of their shares. Vestia’s management and other key individuals in will retain most of their ownership.

CEO Christian Wieland and the other members of Vestia’s management will continue in their current positions. Vestia will be operated as an independent company within Ratos.

The transaction will have marginal impact on Ratos net debt ratio and will be financed with Ratos own funds. The transaction is conditional upon the customary approval by the authorities.
For further information, please contact:
Christian Johansson Gebauer, Business Area Manager, Construction & Services
Phone: +46 8 700 17 00

About Ratos:
Ratos is a business group consisting of 11 companies divided into three business areas: Construction & Services, Consumer & Technology and Industry. In total, the companies have SEK 33 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

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STARK Group welcomes CVC Capital Partners Fund VII as its new partner

08 Jan 2021

CVC Fund VII to acquire 100% of the leading distributor of heavy building materials in Northern Europe.

CVC Capital Partners Fund VII has signed an agreement to acquire 100% of STARK Group, a leading distributor of heavy building materials in Northern Europe.

STARK Group has grown rapidly in recent years through successful acquisitions and organic growth with a strategic focus on being a trusted partner bringing scale benefits to professional craftsmen. The company has been owned by an affiliate of Lone Star Funds since April 2018.

Headquartered in Denmark, STARK Group is a leading B2B distributor of heavy building materials for the construction industry in the Nordics and Germany, with a focus on serving professional craftsmen. The business partners with 10,000 suppliers to serve c. 235,000 customers from more than 400 locations in Denmark (incl. Greenland), Sweden, Norway, Finland, and Germany.

“We are excited to partner with CVC to continue the journey we started together with Lone Star. We have enjoyed this collaboration, which has been instrumental in supporting us to achieve strong growth over recent years.” says Søren P. Olesen, CEO, STARK Group. “We continue to see plenty of opportunities for further development and expansion both in respect of further organic growth and through accretive bolt-on acquisitions in the attractive markets in which we operate. We know CVC very well from the past and look forward to benefitting from their industry expertise, strategic insights and appetite to play an active role in future market consolidation. I could not imagine a better owner to support STARK Group going forward.”

Christoffer Sjøqvist, Senior Managing Director at CVC, adds: “We have followed STARK Group closely for many years and have been impressed with the quality of the business and its people. We are delighted to be supporting the company going forward and look forward to working closely with Søren P. Olesen and his team to continue to grow STARK Group.”

The transaction is subject to customary conditions and approvals and is expected to close in Q2 2021. Legal and financial terms have not been disclosed.

STARK Group and Lone Star Funds were advised by Lazard. CVC was advised by Nordea and Rothschild & Co.

Upon completion, Søren Vestergaard-Poulsen, Managing Partner at CVC, will join the board of STARK Group as Chairman. Christoffer Sjøqvist will also join the board.

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Platinum Equity Completes Sale of PrimeSource to Clearlake Capital Group

Platinum

Press Release · December 31, 2020

LOS ANGELES (December 31, 2020) – Platinum Equity announced today that the sale of PriSo Holding Corporation (“PrimeSource”, or the “Company”) to Clearlake Capital Group, L.P. (together with affiliates, “Clearlake”) has been completed.

PrimeSource is a leading global distributor of specialty building materials serving residential, commercial, and industrial new-construction and remodeling markets. Founded in 1990, PrimeSource manages a highly diversified global supply chain, distributing over 23,000 SKUs sourced from more than 500 vendors in 16 countries throughout Asia, Europe and North America. The Company plays a crucial role for its customers who rely on its superior brand value, breadth of offering and sourcing and logistics capabilities.

“PrimeSource showcased the breadth of our M&A&O toolkit and the ways Platinum creates value throughout the entire lifecycle of an investment,” said Platinum Equity Partner Jacob Kotzubei.

Platinum Equity acquired PrimeSource in 2015 from Itochu Corporation.

“PrimeSource showcased the breadth of our M&A&O toolkit and the ways Platinum creates value throughout the entire lifecycle of an investment,” said Platinum Equity Partner Jacob Kotzubei. “We started by providing a divestiture solution to a large corporate seller, then executed a comprehensive transition and transformation program that established PrimeSource as a solid platform for growth as an independent company. The business thrived under our stewardship, to the benefit of its customers, suppliers, employees and their communities.”

“PrimeSource has been an outstanding investment and is a testament to our strong partnership with CEO Tom Koos and the leadership team,” said Platinum Equity Managing Director Todd Golditch. “Platinum Equity has a proven track record in the building products space over many years and we will continue to look for new opportunities to create value in the sector.”

Moelis & Company LLC served as financial advisor to PrimeSource on the sale and Gibson, Dunn & Crutcher LLP served as Platinum Equity’s legal advisor.

Hear Platinum Equity and PrimeSource executives discuss more about the investment and the transformation of the company here: PrimeSource Building Products

Investor Relations
and Media Contacts:

Mark Barnhill
Partner
+1 310.228.9514 E-mail Mark

Dan Whelan
Principal
+1 310.282.9202 E-mail Dan

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